SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action
Against Nu Skin Enterprises, Inc. and Certain Officers - NUS
NEW YORK, Feb. 21, 2014
NEW YORK, Feb. 21, 2014 /PRNewswire/ -- Pomerantz LLP has filed a class action
lawsuit against Nu Skin Enterprises, Inc.("Nu Skin" or the "Company") (NYSE:
NUS) and certain of its officers. The class action, filed in United States
District Court, District of Utah, and docketed under 14-cv-00049-DBP, is on
behalf of a class consisting of all persons or entities who purchased or
otherwise acquired Nu Skin securities between October 25, 2011 and January 15,
2014 both dates inclusive (the "Class Period"). This class action seeks to
recover damages against Defendants for alleged violations of the federal
securities laws pursuant to Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Nu Skin securities during the Class
Period, you have until March 21, 2014 to ask the Court to appoint you as Lead
Plaintiff for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby
at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237.
Those who inquire by e-mail are encouraged to include their mailing address,
telephone number, and number of shares purchased.
Nu Skin is a global direct selling company. The Company distributes premium
quality personal skin care products and nutritional supplements. Nu Skin
markets its products in the Americas, Europe, and the Asia Pacific region.
The Company provides marketing and distribution of technology-based products
through Big Planets, Inc.
The Complaint alleges that throughout the Class Period, Defendants made
materially false and misleading statements regarding the Company's business,
operational and compliance policies. Specifically, Defendants made false
and/or misleading statements and/or failed to disclose that: (i) the Company's
operations in the People's Republic of China ("PRC") engaged in pyramid
selling schemes in violation of PRC law; and (ii) as a result of the above,
the Company's financial statements were materially false and misleading at all
On August 7, 2012, Citron Research published an analyst report alleging that
Nu Skin's operations in the People's Republic of China were nothing more than
a pyramid scheme based on multi-level marketing and that such schemes are
strictly prohibited in China. On this news, Nu Skin stock declined $6.90 per
share or over 14%, within two trading sessions, to close at $41.96 per share
on August 8, 2012.
On February 14, 2013, the Federal Trade Commission published over 200 pages of
documents pursuant to a request under the Freedom of Information Act ("FOIA")
of consumer complaints regarding Nu Skin from the past five years. On this
news, Nu Skin's stock declined $0.99 per share or 2.3%, to close at $42.93 per
share on February 14, 2013.
On January 15, 2014, a leading Chinese newspaper reported that the Company
operates an illegal pyramid scheme in China, and employs unlawful business
practices in violation of PRC law. In response to that news, the Company's
stock declined $20.78 per share to $115.23, or more than 15.2%, on January 15,
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP
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